Selling a condo unit can be a very different process from selling a standalone home. Condos offer up a shared living environment that you need to play up to potential buyers. Knowing the needs of home buyers and focusing on your condo's strengths will help bring in more offers. Here are four things that you should incorporate into the selling process of your condo.
1. Have Extra Hands on Deck at Your Open House
If your condo has a gate entry system or has multiple entries, don't let potential buyers get lost before they even find your unit. Have more than one realtor helping guide people to the unit or have a neighbor available to help open gates and point people in the right direction. Having another volunteer that can give potential buyers a tour of the shared amenities can help garner interest in the condominium complex.
2. Focus on First Time Buyers
Those looking at condos may be looking for a starter home or a single family home, so your selling tactics should be geared towards this audience. Often the buyers are required to live in their units so that a percentage of a condo units are owner occupied. This will immediately discourage investors. First-time buyers will be interested in hearing about what a condo unit might offer up that a standalone home would not.
3. Showcase the Location
Often, condos can be in downtown areas or come along with great neighborhood features. If your condo is near the beach, downtown shops, or close to downtown, advertise this and have your realtor discuss this at open homes. These will all be selling points for people that want to own property but don't necessarily want to move to the suburbs.
4. Play up Communal Space Features
Condos can offer up some great perks that standalone homes cannot compete with when it comes to shared amenities and maintenance. A pool and gym that are maintained through HOA dues can be a selling point. Safety features such as a gated community or on site management might appeal to a buyer who will be living alone or has children.
Remember to showcase the features of your specific unit and play up the location so that your condo is seen as unique. Working with a real estate agent that specializes in selling condos or townhouses can bring in more interest with the right marketing.